Clover Leaf Capital Corp. (NASDAQ: CLOE) and Digital Ally, Inc. (NASDAQ: DGLY) recently announced the postponement of their special meeting of stockholders in lieu of the 2024 annual meeting of stockholders. The meeting, initially scheduled to approve the proposed initial business combination, has been further postponed to 4:30 p.m., Eastern Time on Thursday, September 5, 2024.
As a result of this change, the deadline for holders of Clover Leaf’s class A common stock issued in its initial public offering to submit their shares for redemption in connection with the business combination has been extended to 5:00 p.m. Eastern Time on Tuesday, September 3, 2024. The record date for Clover Leaf’s stockholders to vote in the meeting remains July 24, 2024.
Kustom Entertainment, Inc., a recently formed wholly-owned subsidiary of Digital Ally, will provide oversight to currently wholly-owned subsidiaries Ticketsmarter, Kustom 440, and Birdvu Jets. Ticketsmarter offers tickets to more than 125,000 live events ranging from concerts to sports and theatre shows. It is the official ticket resale partner of over 35 collegiate conferences, over 300 universities, and hundreds of events and venues nationally.
The postponement of the special meeting of stockholders indicates a shift in the timeline for the proposed initial business combination, providing additional time for stockholders to consider their options and potentially impacting the future direction and operations of the companies involved. As a result of these announcements, the company's shares have moved -1.9% on the market, and are now trading at a price of $11.2. For more information, read the company's full 8-K submission here.
